05 May 2021 at 07:18hrs | Views THE Reserve Bank of Zimbabwe (RBZ) has approved a $500 million facility for micro, small and medium enterprises (MSMES) to stimulate economic growth.In a statement yesterday, the RBZ said the facility would be accessed through various financial institutions....
THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force. An interbank rate is the interest rate charged on short-term loans between banks. Banks may borrow or lend money am...
THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force. An interbank rate is the interest rate charged on short-term loans between banks. Banks may borrow or lend money am...
Economist Eddie Cross shared similar sentiments saying the formal exchange rate was determined by bids submitted by buyers, relative to available forex. Cross, however, noted the RBZ may have indirect say in the level of the exchange through levels of interest rates and money supply in the econom...
Its monetary measures announced last week were meant to contain exchange rate implosion and the rising inflation in the country. Economic analysts had warned that the ban on lending would cripple operations of major manufacturers in the country. ...
Yearly inflation rates have since fallen from a high of 837 % to the current 194 % as at April 30, 2021 amid the slowdown of the Zimbabwe dollar depreciation on both the parallel and official exchange rate markets. Several listed companies and banks have since acknowledged the platform’s imp...
“Low and stable inflation, exchange rate stability, sustained fiscal reforms and reduced debt overhang are characteristics of countries that have attracted significant FDI inflows and greater macroeconomic stability,’’ he said. Mlambo said on a good note, inflation had significantly fallen from a pe...
Some importers that have “won” bids at the auction report delays in getting the money, a sign of flaws in the system that may weaken confidence. What do companies themselves think of the currency measures? For those listed on the Zimbabwe Stock Exchange, their response has reflected that of...
The foreign currency auction system was introduced by the RBZ in 2020 to bring confidence, boost foreign currency availability, stabilise the exchange rate and curtail the parallel market. However, RBZ penalised 18 companies for manipulating the auction system and violating Statutory Instrument (SI) 12...
In a statement, the FIU said card-holders were approaching customers who intend to buy goods or services in foreign currency and offer the use of their cards in return for foreign currency at an agreed exchange rate. It said in the course of discharging Anti-Money Laundering/Combating the Fin...